What is UntitledBank Airdrop and How to Participate

UntitledBank is revolutionizing DeFi lending with its innovative platform on the Soneium blockchain. As part of its growth strategy, UntitledBank is rewarding its community through a points-based airdrop system. 

Participants can earn U points by engaging with the platform, making this a compelling opportunity for both seasoned and new DeFi users. Let’s explore the details of the UntitledBank airdrop and how you can participate.

What is UntitledBank? 

UntitledBank is a permissionless lending and borrowing platform that leverages the scalability of the Soneium blockchain. As a winner of the Soneium Spark Incubation program, it aims to bridge traditional finance with DeFi solutions. Security is a top priority, with audits conducted by ScaleBit and Besion to safeguard user funds. Users can earn yields on deposits and access liquidity while enjoying a seamless lending experience.

Source: Untitled Bank

UntitledBank Airdrop Details 

The airdrop rewards users based on U points, which are earned through:

• Lending: Deposit assets to generate points.

• Borrowing: Use collateral to access liquidity and earn additional points.

• Community Engagement: Participate in events and discussions.

• Referral Program: Share referral links to boost your rewards.

The more points you accumulate, the greater your potential airdrop allocation.

Step-by-Step Guide to Participate

1. Getting Started on Soneium

   • Set up a compatible Web3 wallet, such as Rabby.

   • Acquire ETH from a centralized exchange.

   • Withdraw ETH to your wallet on the Ethereum mainnet.

   • Use Relay or Superbridge to bridge ETH to the Soneium blockchain.

   • Swap ETH for WETH, USDC.e, or ASTAR on SoneFi DEX.

2. Earning U Points

   • Deposit Strategy:

     • Go to the "Earn" section of UntitledBank.

     • Deposit $100 or more to earn 1 U point per hour.

     • Monitor your rewards through the dashboard.

   • Borrowing Strategy:

     • Borrow assets with your collateral.

     • Earn 2 U points per hour for every $100 borrowed.

3. Referral Program

   • Generate a referral link from the "Rewards" page.

   • Share it with others to earn a 10% bonus on their point earnings.

4. Community Engagement

   • Join the UntitledBank Discord.

   • Participate in discussions and events to earn additional points.

Read also: What is the Abstract Airdrop and How to Participate?

Tips for Maximizing Rewards

• Balance deposits and borrowing to optimize point generation.

• Stay updated on events offering bonus points.

• Increase deposits to earn points more efficiently.

• Upgrade your membership card to gain point multipliers.

FAQ

What assets can I deposit on UntitledBank? 

You can deposit WETH, USDC.e, or ASTAR on the Soneium blockchain.

How are points calculated? 

Points are earned hourly: 1 point per $100 for deposits and 2 points per $100 for borrowing.

How long will the points campaign last? 

The campaign’s duration hasn’t been announced. Follow official channels for updates.

Are there risks involved? 

While UntitledBank is audited, users should consider risks such as market volatility and potential liquidation.

Conclusion 

The UntitledBank airdrop presents an exciting opportunity to engage with a leading DeFi platform while earning valuable rewards. By actively participating and maximizing your U points, you can secure a significant airdrop allocation. Stay connected with the community and keep track of your positions to make the most of this event.